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Last Updated : Oct 28, 2015 04:05 PM IST | Source: CNBC-TV18

Buy Tata Motors on dips, advises CA Rudramurthy

CA Rudramurthy of Vachana Investments recommends buying Tata Motors on dips for a target of Rs 440.

CA Rudramurthy of Vachana Investments told CNBC-TV18, "Tata Motors is showing great signs of accumulation and I am very bullish on this stock. The only thing is where to buy is a big question. The trend is clearly on the upside but I advocate buying Tata Motors on dips. Whenever you see panic markets like today, or we might see some more days of selling, look at accumulating Tata Motors in the range of Rs 355 to Rs 365."

"One can even go long. In next month futures, on Tata Motors I see a big target of Rs 440 coming in the next series and with a stop loss of Rs 349, it is a good stock to buy. It offers a great risk reward ratio. Value buyers are also accumulating this stock on a delivery based buying. Above Rs 440, even Rs 480 is visible on Tata Motors. However, one should not ignore or forget to keep a stop loss at Rs 349 on a closing basis," he said.

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First Published on Oct 28, 2015 04:02 pm
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